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<p>In April 2017, the Government implemented reforms to the Horserace Betting Levy
which made it a requirement for offshore operators to pay the Levy for the first time.</p><p>
</p><p>The Horserace Betting Levy Board, which collects the Levy, estimates that the
reformed Levy will generate c.£85m in 2017/18. This would represent an increase of
c.£20m compared to receipts from bookmakers in 2016/17 under the old system. The actual
Levy yield for 2017/18 will only be known after the end of the financial year. Increased
receipts from the Levy have already allowed an additional £9.7m of investment in grassroots
prize money, contributing to record prize money of £160m in 2018.</p><p> </p><p>The
Levy is collected from bookmakers and distributed in line with the statutory purposes
in support of horseracing, and so has no direct effect on the public purse.</p>
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